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News Breaks | | | | January 25, 2013 | | 10:09 EDT |  | T, VOD, VZ | AT&T to acquire spectrum from Verizon Wireless for $1.9B
On January 25, AT&T (T) announced that it has agreed to acquire spectrum in the 700 MHz B band from Verizon Wireless (VZ, VOD) for $1.9B in cash and a contribution of Advanced Wireless Services spectrum licenses in five markets.The 700 MHz licenses to be acquired by AT&T cover 42 million people in 18 states — California, Colorado, Florida, Idaho, Illinois, Louisiana, Montana, New Mexico, New York, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wyoming. The transaction is subject to regulatory approval. The company announced in November 2012 that it plans to reach 300 million people in the U.S. with its 4G LTE network by the end of 2014. AT&T anticipates closing the transaction in the second half of 2013. | |
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